PWC Survey: CSRD Readiness in Question at Many Companies

A recent survey conducted by PWC of 500 senior executives and business professionals finds that only 63% are very or extremely confident that they will be ready to report under the European Union’s Corporate Sustainability Reporting Directive. That said, many believe that the law will lead to even greater focus on sustainability as a source of value creation and risk reduction.

Click here for links to information about EEA engagement solution providers.

More than three-quarters (79%) of those surveyed believe “CSRD is or will lead to company leadership considering sustainability in decision making to a greater extent. Respondents believe CSRD will benefit their company to a large extent through environmental performance (51%), improved engagement with stakeholders (49%), and risk mitigation (48%)”

In addition, almost one-third believe CSRD benefits will include revenue growth (28%) or cost savings (26%). The expectation of financial benefits is higher for companies closer to their reporting deadline, with 38% of companies due to report in fiscal year 2025 expecting to benefit to a large extent through revenue growth and 34% through cost savings

These are among the interesting findings from this recent report: PwC 2024 Global CSRD Survey.

With the first of the companies affected by the law due to report in six months, “executives cite data availability and quality (59%), value chain complexity (57%) and staff capacity (50%) as obstacles to implementation to a large or very large extent.”

Of those companies confident of their ability to report on time, less than half have completed key activities, such as confirmation of reporting options (39%), double materiality assessment (38%), and validation of availability of data (20%). Of respondents from companies headquartered in 38 countries and territories, 75% already plan to report at a consolidated group level, including operations outside the EU, the report states.

The survey also finds that “preparing to report under the EU’s Corporate Sustainability Reporting Directive (CSRD) is leading companies to give more weight to sustainability in business decisions. Around three-quarters of companies preparing to file under the directive, including those headquartered outside the EU, say they are factoring sustainability into decision-making to a greater extent, or that they plan to do so.”

While the survey results indicate confidence around sustainability reporting, survey respondents cite obstacles to implementation. The single biggest concern listed is data availability and quality (59%).

Only one-fifth of companies due to report in their 2025 financial year have validated the availability and completeness of data for their disclosures, the survey indicates. “Additionally, less than 60% of all respondents have involved their technology function, although most respondents plan to do so, and most companies are not using specialist tools or technology. Spreadsheets are the most commonly used tool (74%), compared with 26% using centralized sustainability data storage (e.g., a data lake) and 20% using AI, although more have plans to use these tools in the future.”

ESM Is Published by The EEA: Your Source for Effective Stakeholder Management, Engagement, and Reporting

Through education, media, business development, advisory services, and outreach, the Enterprise Engagement Alliance supports professionals, educators, organizations, asset managers, investors, and engagement solution providers seeking a competitive advantage by profiting from a strategic and systematic approach to stakeholder engagement across the enterprise. Click here for details on all EEA and ESM media services.

1. Professional Education on Stakeholder Management and Total Rewards

Become part of the EEA as an individual, corporation, or solution provider to gain access to valuable learning, thought leadership, and marketing resources to master stakeholder management and reporting.
The only education and certification program focusing on Stakeholder Engagement and Human Capital metrics and reporting, featuring nine members-only training videos that provide preparation for certification in Enterprise Engagement.
EEA books: Paid EEA participants receive Enterprise Engagement for CEOs: The Little Blue Book for People-Centric Capitalists, a quick implementation guide for CEOs; Enterprise Engagement: The Roadmap 5th Edition implementation guide; a comprehensive textbook for practitioners, academics, and students, plus four books on theory and implementation from leaders in Stakeholder Management, Finance, Human Capital Management, and Culture.

2. Media

ESM at EnterpriseEngagement.org, EEXAdvisors.com marketplace, ESM e–newsletters, and library.
RRN at RewardsRecognitionNetwork.com; BrandMediaCoalition.com marketplace, RRN e-newsletters, and library.
EEA YouTube Channel with over three dozen how-to and insight videos and growing with nearly 100 expert guests.

3. Fully Integrated Business Development for Engagement and Total Rewards

Strategic Business Development for Stakeholder Management and Total Rewards solution providers, including Integrated blog, social media, and e-newsletter campaigns managed by content marketing experts.

4. Advisory Services for Organizations

Stakeholder Management Business Plans; Human Capital Management, Metrics, and Corporate Sustainability Reporting for organizations, including ISO human capital certifications, and services for solution providers.

5. Outreach in the US and Around the World on Stakeholder Management and Total Rewards

The EEA promotes a strategic approach to people management and total rewards through its e-newsletters, web sites, and social media reaching 20,000 professionals a month and through other activities, such as:

Association of National Advertisers Brand Engagement 360 Knowledge Center to educate brands and agencies.